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Share buyback during black-out period 'a mistake': No Signboard
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Nisha Ramchandani
Published Sun, Feb 3, 2019 · 09:50 PM
Singapore
LIM Yong Sim, executive chairman and chief executive officer of No Signboard Holdings, made "an honest mistake" when he instructed the company's broker to buy back shares of the seafood restaurant operator during a trading restriction period.
Responding to an earlier query from the Singapore Exchange (SGX) on the unusual price movements of No Signboard shares, the company said it had held its annual general meeting on the morning of Jan 31 to approve the company's share buyback mandate. Mr Lim later instructed the company's broker UOB Kay Hian to queue to buy the shares at a price of up to S$0.14 each. By 12.12pm on Jan 31, about 1.07 million shares were purchased.
